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little boy gets a closer look at the ocean

Today was one of those days that you dream of …. blue skies, sun shining and a perfect balmy temperature in the mid 70s.

There was no waiting for the marine layer to burn away, and the coast was alive with locals and visitors to our beautiful La Jolla coastline.

As I walked along the coast this evening, I started thinking that many of the people I meet who visit from out of town would love to buy a condo on Coast Blvd, but believe it is not something they will ever do.

Later I did some research and found that there are currently just 23 condos for sale along La Jolla’s most famous street, ranging from $399,000 to $4,500,000 for the most luxurious of accommodations.

seagull taking in the scenery

Summer is here almost year round in La Jolla, so come and join the fun!

Email Alex today, if you would like more details of homes available along La Jolla’s  beautiful coastline.

spring flowers cascading over garden wall

If you are a gardener, or simply like flowers, then you don’t want to miss the La Jolla Secret Garden Tour.  This event takes place every spring and takes you on a tour of some of the most beautiful gardens in La Jolla.

The tour is called “Secret” because the gardens you see are not visible from the street or pathways, and are often hidden behind trees, shrubs, and buildings, but without fail they are always a delight and surprise.

The location of the gardens is not revealed until the day of the event, and gardens can be large, small, formal or more natural in form.  Gardens chosen in the past have  been all styles – Mediterranean, English, French, native Californian .. and all have a unique charm and surprise of their own.

The event, organized by the La Jolla Historical Society will take place this Saturday, May 19th from 10 am until 4 pm, and tickets can be purchased online, or at Warwicks in La Jolla.

So if you are looking for beautiful ideas for your garden whether large or small, casual or formal, take a tour of some of La Jolla’s most beautiful hidden gems this Saturday, and take home a few ideas to try in your garden.  The tour begins at Wisteria Cottage.

the property sits on the corner of beaumont and via del norte

 

I will be holding open a beautiful home at 6209 Beaumont Avenue, in the Upper Hermosa neighborhood of La Jolla on Saturday, May 5, 2012 between 1 and 4 pm.

The details of this 4 bedroom home can be viewed by clicking on the Open House Tab at the top.

If you don’t know the Windansea Beach Barber Tract area well, the pictures below will give you some idea of what an ideal location this really is.

 

 

nearby windansea beach

Just a short walk from this Beaumont Avenue property you will find restaurants, the beach, shopping and the lively area of Bird Rock

- and don’t forget the village of La Jolla is only 5 minutes away by car.

starkey mini park nearby

Starkey Mini Park is nearby just off Draper Avenue.

This beautiful park is a fun place for all the family.

bike to the windansea cafe for breakfast

If breakfast is on your mind, why not walk or ride your bike to the Windansea Cafe.

dine at the mandarin house

Then, later on, you can just walk to the Mandarin House for a relaxing dinner,  or if Mexican food is what you crave, cross La Jolla Boulevard to Su Casa and their famous happy hour.

the beach is just minutes away

Once on the other side of La Jolla Boulevard, it is easy to see how close you are to the beach.

breathtaking views from all sides

Here you can see some of La Jolla’s best surfers at this beach, or simply take in the breathtaking views from the sidewalk.

sidewalk cafes in bird rock

Want to try the life in Bird Rock – if you like to walk, no problem, or jump in the car to the bustling little shopping area with its sidewalk cafes, and shopping galore.

6209 Beaumont Avenue has something for everyone – a beautiful Lower Hermosa home situated in a convenient location, with access to all.

does a rose tinted view of the world simply translate to optimism and tenaciousness?

Like most people in the business world, realtors are constantly being confronted with new technology – our desktop computers have been replaced by smartphones, signing with a pen has been replaced by digital signature, Ipods became Ipads, we have hands-free devices in our cars and voice recognition (which never seems to work with my accent) to name just a few.

I wasn’t surprised, therefore, to learn of yet another new device from Google a few weeks ago.

Google unveiled their prototype wearable internet connected rose-tinted glasses featuring a see through display screen that shows text messages, appointments, weather data and maps, etc.

So we will now be seeing the world through rose colored glasses as well, but come to think of it I have always been accused of seeing the world through rose colored glasses anyway – even called Pollyanna by some – but in real estate is that such a bad thing?

The real estate world of late has been so volatile that many of the clients I meet, having weathered the storm of this last few years, are naturally apprehensive when it comes to buying a home, and some are unsure that they can even be considered by a bank for a loan.  The short sale and foreclosure markets while presenting opportunities for some, also make the process even more nerve wracking.  Yet sometimes all you need is someone in your corner when things go wrong, and doubt starts to creep in.

If you are finding yourself  in a real estate scenario that feels hopeless, and everyone you talk to says there’s no way out  - whether it’s selling your current home, obtaining a loan for a new home, or simply finding a home that is anything like the one you are hoping to buy or rent, contact me to discuss your situation.  Together we can work on finding a solution.

You can read the New York Times article on Google’s glasses here.

spring 2012 brings competitive home buying market, quiet times are a thing of the past

According to a recent article at Bankrate.com, the housing market is improving, and a new buying and selling environment is emerging which is making it more difficult for buyers.

After reading this article, and experiencing these real estate trends here in La Jolla, my advice to buyers on the fence, or holding off buying in order to find the perfect home would be not to wait too long.

If you are struggling to find the right property, draw up a list of items your ideal home should have, and rate them in order of importance, then eliminate the least important items from your “wish list”.

Here is what the experts are saying 2012 will have – fierce competition, more renters wanting to own homes, higher mortgage rates.

1.   Competition

Housing affordability is still at record highs, and mortgage rates still low.  This combination and the general feeling of optimism about the economy is making more people willing to purchase.  Falling inventories is making the competition fierce.

Investors are purchasing homes often in cash deals, creating greater competition for traditional home buyers too.

2. Renters Want to be Homeowners

Recent surveys have shown that buying a home nowadays is more affordable than renting. The appeal of home ownership is more enticing that renting.   In a recent study by Kingsley Associates 59.5 percent of tenants surveyed said they intend to renew their leases this year, which is the lowest rate since early 2009.

3. Higher Priced Mortgages.

Fannie Mae, Freddie Mac, and the Federal Housing Administration recently have raised their loan fees, which means home buyers can expect to pay a little more for their mortgage this spring.

FHA mortgage insurance premiums have also risen to 1.75 percent of the loan total. Bankrate.com cites an example illustrating the higher fees: A borrower who takes out a $200,000 FHA loan will likely have to pay about $3,500 for mortgage insurance upfront. Prior to the increase taking effect, borrowers would pay about $2,000 for that same loan amount.

The FHA also announced that in June it will increase its annual insurance for mortgages more than $625,500.  If a borrower  lives in a high-cost area and takes out the maximum $729,750 (which is the FHA limit for high-cost areas) they will pay $912 each month in mortgage insurance, according to Bankrate.com.

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la jolla community is meeting to stop the sale

The date has arrived for the much talked about meeting with the United States Postal Service here in the community of La Jolla.

The residents and businesses of La Jolla, led by the Save our La Jolla Post Office Task Force, have joined together in trying to put a stop to the sale of this historic building, which as anyone who lives or works in the village knows, is a landmark La Jolla building.

If you are interested in attending the meeting to save the 77 year old post office building and keeping its present use as a post office, plan on attending the meeting which is taking place today, April 26, 2012 at 6pm.

The meeting will be held at:

can you make a low offer?

There was a time not so long ago when buyers would look at the asking price of a property, and then offer something well below that figure.  This could range anywhere from 5 – 25% below asking price, depending on the buyer, and was based on the premise that real estate prices would drop.

The buyer considered his or her offer to be reasonable, and believed the seller would have to accept it.

In La Jolla’s real estate market, I experienced this with some of the buyers I worked with last year, and was not surprised to learn from a survey conducted by the National Association of Realtors that 10 percent of REALTORS® complained about receiving low-ball offers on listed homes during 2011, but now that number has dropped drastically.

In the latest survey of 4,500 agents and brokers conducted in March 2012, no REALTORS® complained about low-ball offers. A new problem has now emerged and that is the sudden drop in inventory of homes for sale.

For home buyers who still think they can go in low, the seller often simply rejects the offer because they know a better offer will be just around the corner, and they are also much more confident that they won’t have to wait too long.  If the offer is considered, it is usually countered closer to the original asking price.

In 146 metros tracked by Realtor.com, the number of for-sale listings was down 21 percent in March compared to a year ago. All but two markets, Philadelphia and Hartford, Conn.,  saw listing inventory decline, and 78 markets registered declines of 20 percent or more.

Nationwide, the median number of days a home had been on the market was down nearly 20 percent, to 89 days, and median list price was up 5.6 percent, to $189,900.

How is the La Jolla real estate performing?  According to the latest figures by Trend Graphics, the average price per square foot of an attached home in March 2012 was $569, an increase of 33.7% over the same time last year.  The average price per square foot of a detached home in March 2012 was $526, an decrease of 5.1% over the same time last year.  As inventory is sold, we can expect the price of detached homes to start edging up as well.

So to answer the question, “Is it ok to make a low ball offer over the coming months?”, at this point in time if you want the property badly enough  - probably the answer is no.

If you are unsure of what price to offer for a property, discuss this with your realtor who will prepare a report of comparative properties sold, for sale, and pending in the area you are considering.  Then, armed with these figures, you will be able to make an informed decision about the property price and features weighed against how much you are willing to pay for the property, if it is a home you absolutely must have.

If you would like market or property information in a neighborhood in which you are considering buying a home, email here for details.

schools are an important consideration when buying a home

A recent report has determined that having good schools nearby improves home values.

According to Brookings Institution living near a high-scoring public school district can raise home values $205,000 higher compared to homes located in neighborhoods with low-scoring school districts.

So when you are searching for a home, the score of the school you send your children to is not only of great importance for your child’s education, but also has a huge impact on your real estate investment.

Senior research analyst at Brookings, Jonathan Rothwell, concluded that although many people think the main difference in education is public (free) and private (fee paying) schools.  However, it turns out that it’s actually very expensive to enroll your children in a high-scoring public school because the cost of living in a high-scoring public neighborhood can be higher than paying for tuition at a private school.

nearby schools can affect real estate values report finds

Housing costs near high-scoring schools — those in the top one-fifth of schools in the area — were 2.4 times higher on average, or $11,000 more per year, than homes located in school districts in the bottom fifth, the study found.

CNN Money also reported from the study’s findings that some of the areas with the largest differences in housing costs also have the widest gaps in school test scores.

Information on local schools.

Go to the full study by Brookings Institution.

make your yard sustainable with drought-tolerant plants

This weekend San Diego will have its annual Earth Fair at Balboa Park.  The San Diego festival is the largest free fair of its kind in the world.

This year’s Fair has more than 350 exhibitors, special theme areas, a Food Pavilion, a special Kids’ Activity Area, three entertainment venues, the Children’s Earth Parade, a Gallery art show, and the Cleaner Car Concourse, it promises to be a fun day  for all the family, with the beautiful San Diego weather in the 70s, a day at the park couldn’t be any better.

As people become increasingly aware of sustainability, and green solutions for their homes, this year’s event also features the eHome exhibit area.

Here you can find products and technologies to make your home more environmentally friendly, and learn about energy and resource saving products.  So if remodeling is on your to-do list over the next few months, make sure you stop by the EarthFair this weekend.

If you are visiting the La Jolla or San Diego area, Balboa Park is not to be missed.

The event starts at 10 am thru 5 pm, is free at Balboa Park.  To learn more about the event go to www.sandiego.org.

Balboa park is located at:  1549 El Prado, Balboa Park, San Diego, California, 92101, telephone (619) 239-0512.

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purple pansies and green plants

I am fortunate that my job allows me to see many styles of home, interior decoration and architecture, all of which add to the value and desirability of a home.

One of the things that is often overlooked by a seller trying to add that “wow” factor to a home is the impact that gardens and planters can make, especially when you first enter the gate or walk up the pathway to the front door.

The home does not have to be a large or expensive, the same impact can be achieved in a small patio or walkway.

Yesterday, I visited a home on Cottontail Lane, La Jolla, which in itself was a stunning piece of architecture, filled with many artistic finishes, but the thing that struck you as soon as you entered the gate was the flowers in full bloom in the sun.

Take a look at the pictures below, and see if you can transform your garden or patio!

asian inspired planter with drought tolerant plants

This amazing Asian inspired planter looks good, and is drought tolerant, as well.

brightly colored begonia

The red and purple flowers in this beautiful decorative pot, pick up the purple color of the border plants along the fence line.

snapdragons lead the way

These brightly colored flowers line the pathway and welcome visitors on their arrival.

purple pansies and green plants

Pansies look elegant and understated when teamed with green foxtail fern and greenery, in a natural wooden planter.